Metaverse in Healthcare Market Growth and Restraint Factors Analysis 2023-2030
Virtual Reality Headsets

Metaverse in Healthcare Market Growth and Restraint Factors Analysis 2023-2030

PRESS RELEASE

Posted May 15, 2023

InsightAce Analytics Pvt. announces the publication of a market assessment report on the “Global Healthcare Market Metaverse (component (software, hardware), technology (AR, VR, AI, MR), device (VR headsets, AR devices, mixed reality platforms), end user (training and medical education modules, diagnosis, treatment , Operating Room Design, Surgery Training, Remote Monitoring and Others)) Trends, Industry Competitive Analysis, Revenue and Forecast to 2030.”

According to the latest research from InsightAce Analytic, the global Healthcare Market Metaverse is valued at US$6.57 Billion in 2022, and it is expected to reach US$71.66 Billion by 2030, with a CAGR by 35.4% during the forecast period of 2023. -2030. By region, North America led the market with a major share in 2022.

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The metaverse is an emerging concept that will add many new dimensions as important social players combine various aspects of virtual reality and immersive experiences. It will be a great healthcare tool for learning, empowering, and delivering enjoyable experiences for patients and providers. The role of the Metaverse in transforming healthcare cannot be overstated as it combines AI, Virtual Reality, Augmented Reality, Internet of Medical Devices, Web 3.0, Smart Cloud, Edge Computing and quantum and robotics. With its wacky headgear and sci-fi detours, the world of augmented reality is poised to transform patients’ medical experiences. While surgical procedures already used robotics, complex surgeries are now configured to use augmented realities. Doctors and experts use virtual reality to train other doctors and medical personnel.

The increased use of AR platforms to perform complex surgical procedures with greater precision and flexibility will help the Metaverse grow in the healthcare market. Other critical factors that are expected to contribute to the market revenue in the coming years include increasing collaborations among major companies to develop AR and VR solutions to improve the overall surgical environment and increasing investments to create metaverse platforms to transform the healthcare sector. A growing number of companies are investing heavily in digital healthcare platforms to improve telemedicine experiences, accelerate the transition to virtual reality, and improve other medical services with augmented reality.

Patient data privacy, high cost of high-tech devices and hardware, and rising costs of more advanced digital healthcare infrastructure are challenges for the metaverse in the healthcare market.

North America is expected to lead the forecast period. This is due to the strong presence in the region of metaverse-focused companies, rapid advances in healthcare infrastructure, integration of AR and VR devices and platforms in healthcare, increased investment in AR products and applications and software and hardware upgrades.

The main market players are Intuitive Surgical Inc., CableLabs, Microsoft, Google LLC, Meta Platforms, Inc., 8chilli, Inc., Global Healthcare Academy, 3D Systems Corp., AccuVein Inc., BioflightVR, CAE Inc., Devden Creative Solutions Pvt. Ltd., Dhi Tattva Solutions Pvt. Ltd., Eon Reality Inc., ImmersiveTouch Inc., Intuitive Surgical Inc., Koninklijke Philips NV, Medical Realities Ltd., MindMaze SA, Oodles Technologies, Siemens AG, Sky gate, UnitedHealth Group Inc., Wipro Ltd., WorldViz Inc.

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Key Market Developments

  • In November 2022, Meta Platforms, Inc. introduced its latest virtual reality headset. Meta’s, Meta Quest Pro introduces a new way for people to work, create and collaborate. The technology allows simulationists to utilize the virtual world with revolutionary high-resolution mixed reality while preserving their presence in physical space in high-definition color. Several healthcare simulation companies have said they will use Meta Quest Pro technology to improve their own product experiences in response to its release.
  • In October 2022, Microsoft and Meta have partnered to bring Teams, Microsoft 365, and other apps to Meta Quest devices. In a new cooperation unveiled at Meta Connect 2022, Microsoft is bringing some of its proven products to Meta’s Oculus’ Quest virtual reality headsets.
  • In October 2022, Microsoft and Meta have partnered to bring Teams, Microsoft 365, and other apps to Meta Quest devices. In a new cooperation unveiled at Meta Connect 2022, Microsoft is bringing some of its proven products to Meta’s Oculus’ Quest virtual reality headsets.

Market segments

Global Healthcare Metaverse Market, By Technology2022-2030 (Value in US$ millions)

Global Healthcare Metaverse Market By Final user2022-2030 (Value in US$ millions)

  • Medical training and education modules
  • Diagnostic
  • Treatment
  • Design operating rooms
  • Surgical training
  • Remote monitoring
  • Others

Global Healthcare Metaverse Market By Device2022-2030 (Value in US$ millions)

  • VR headsets
  • AR devices
  • Mixed reality platforms

Global Healthcare Metaverse Market, By Making up2022-2030 (Value in US$ millions)

Global Healthcare Metaverse Market By Region2022-2030 (Value in US$ millions)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

North American Metaverse in Healthcare Market by Country2022-2030 (Value in US$ millions)

Europe Metaverse in Healthcare Market by Country2022-2030 (Value in US$ millions)

  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • The rest of Europe

Asia-Pacific Metaverse in Healthcare Market by Country2022-2030 (Value in US$ millions)

  • India
  • China
  • Japan
  • South Korea
  • Australia and New Zealand

Latin America’s Metaverse in the Healthcare Market by Country2022-2030 (Value in US$ millions)

  • Brazil
  • Mexico
  • Rest of Latin America

The Middle East & Africa Metaverse in Healthcare Market by Country2022-2030 (Value in US$ millions)

  • GCC countries
  • South Africa
  • Rest of the Middle East and Africa

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Other related reports published by InsightAce Analytics:

Global Big Data in Healthcare Market

Global Voice Technology in Healthcare Market

Global AI-Based Clinical Trial Solution Provider Market

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